Latest Ratios: P/E Ratio -75.7x · EV/EBITDA 29.4x · ROE -5.6%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.9B | $1.4B | $956M | $727M | $618M | $573M | $641M | $596M | $423M | $329M | $289M |
| Enterprise Value | $3.2B | $1.7B | $1.2B | $980M | $854M | $817M | $921M | $885M | $642M | $543M | $448M |
| P/E Ratio → | -75.67 | — | 30.31 | 45.67 | 21.44 | 4.23 | 22.01 | 18.37 | 47.17 | 16.35 | 11.41 |
| P/S Ratio | 3.46 | 1.72 | 1.22 | 0.96 | 0.87 | 0.89 | 1.02 | 0.83 | 0.67 | 0.59 | 0.52 |
| P/B Ratio | 4.27 | 2.15 | 1.40 | 1.14 | 1.17 | 1.21 | 1.95 | 2.04 | 1.65 | 1.40 | 1.36 |
| P/FCF | — | — | 47.66 | 63.00 | 47.56 | — | 6344.04 | 18.20 | 14.80 | 42.03 | 10.99 |
| P/OCF | — | — | 27.96 | 23.41 | 18.90 | — | 50.81 | 11.68 | 9.16 | 9.28 | 6.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.09 | 1.51 | 1.29 | 1.20 | 1.27 | 1.46 | 1.23 | 1.02 | 0.97 | 0.81 |
| EV / EBITDA | 29.35 | 16.02 | 13.90 | 15.94 | 12.00 | 10.58 | 12.38 | 10.46 | 13.05 | 14.33 | 8.72 |
| EV / EBIT | 42.74 | 23.33 | 22.81 | 26.38 | 19.03 | 4.50 | 20.18 | 15.78 | 16.60 | 22.18 | 9.53 |
| EV / FCF | — | — | 59.39 | 84.90 | 65.77 | — | 9117.74 | 27.02 | 22.45 | 69.37 | 17.07 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.9% | 26.9% | 25.1% | 21.6% | 20.3% | 22.1% | 21.9% | 21.1% | 19.5% | 18.4% | 19.3% |
| Operating Margin | 8.9% | 8.9% | 6.6% | 3.8% | 5.6% | 7.6% | 7.2% | 7.8% | 3.8% | 2.7% | 5.2% |
| Net Profit Margin | -4.5% | -4.5% | 4.0% | 2.1% | 4.0% | 21.0% | 4.6% | 4.5% | 1.4% | 3.6% | 4.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -5.6% | -5.6% | 4.8% | 2.7% | 5.8% | 33.7% | 9.4% | 11.8% | 3.7% | 9.0% | 12.6% |
| ROA | -3.2% | -3.2% | 2.8% | 1.5% | 2.9% | 14.9% | 3.6% | 4.5% | 1.5% | 3.7% | 4.7% |
| ROIC | 5.9% | 5.9% | 4.3% | 2.6% | 4.0% | 5.5% | 5.7% | 8.0% | 3.9% | 2.7% | 5.4% |
| ROCE | 7.5% | 7.5% | 5.5% | 3.3% | 4.9% | 6.5% | 6.8% | 9.6% | 4.7% | 3.3% | 6.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.52 | 0.52 | 0.40 | 0.46 | 0.54 | 0.68 | 1.02 | 1.12 | 0.89 | 0.92 | 0.79 |
| Debt / EBITDA | 3.22 | 3.22 | 3.18 | 4.81 | 3.97 | 4.15 | 4.53 | 3.88 | 4.66 | 5.71 | 3.25 |
| Net Debt / Equity | — | 0.45 | 0.34 | 0.40 | 0.45 | 0.51 | 0.85 | 0.99 | 0.85 | 0.91 | 0.75 |
| Net Debt / EBITDA | 2.80 | 2.80 | 2.74 | 4.11 | 3.32 | 3.16 | 3.77 | 3.42 | 4.45 | 5.65 | 3.10 |
| Debt / FCF | — | — | 11.72 | 21.89 | 18.21 | — | 2773.69 | 8.82 | 7.65 | 27.34 | 6.07 |
| Interest Coverage | 5.82 | 5.82 | 3.41 | 1.79 | 3.88 | 16.24 | 3.34 | 3.06 | 2.97 | 2.76 | 5.27 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.50 | 3.50 | 3.24 | 2.99 | 2.64 | 3.03 | 2.87 | 2.36 | 2.27 | 2.75 | 2.62 |
| Quick Ratio | 2.47 | 2.47 | 2.12 | 1.86 | 1.79 | 2.10 | 1.97 | 1.58 | 1.47 | 1.23 | 1.23 |
| Cash Ratio | 0.25 | 0.25 | 0.21 | 0.23 | 0.23 | 0.47 | 0.40 | 0.27 | 0.08 | 0.03 | 0.09 |
| Asset Turnover | — | 0.70 | 0.70 | 0.68 | 0.70 | 0.66 | 0.75 | 0.91 | 0.97 | 0.98 | 1.07 |
| Inventory Turnover | 3.30 | 3.30 | 2.99 | 2.87 | 3.32 | 3.33 | 3.80 | 5.06 | 5.01 | 3.73 | 3.71 |
| Days Sales Outstanding | — | 165.63 | 144.00 | 136.15 | 151.24 | 140.63 | 123.06 | 87.98 | 89.60 | 48.43 | 50.54 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.3% | 2.2% | 4.7% | 23.6% | 4.5% | 5.4% | 2.1% | 6.1% | 8.8% |
| FCF Yield | — | — | 2.1% | 1.6% | 2.1% | — | 0.0% | 5.5% | 6.8% | 2.4% | 9.1% |
| Buyback Yield | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 2.1% | 0.5% |
| Total Shareholder Yield | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 2.1% | 0.5% |
| Shares Outstanding | — | $15M | $15M | $14M | $12M | $12M | $12M | $12M | $12M | $12M | $11M |
Operational margin volatility
According to current market data, Ducommun's forward P/E of 42.90 suggests that investors are pricing in a significant recovery in earnings, despite the company's recent history of net losses and the lack of a meaningful PEG ratio to justify such a premium relative to historical averages.
The elevated forward multiple appears to hinge on the assumption that the company can successfully transition from its current operational friction to higher-margin output. Investors should monitor whether this valuation is sustainable if the anticipated earnings growth fails to materialize, particularly when compared to the more consistent profitability profiles of peers like TransDigm.
As reported in financial statements, Ducommun's ROIC has struggled to break above the 2% threshold in recent quarters, indicating that the company is currently failing to generate returns on invested capital that exceed its likely cost of capital, a trend that warrants further investigation by fundamental analysts.
The persistent low ROIC suggests that the capital deployed into structural and electronic manufacturing assets is not yet yielding the expected efficiency gains. This underperformance may imply that the company is still in a heavy investment phase or that its asset base is not being utilized with the same intensity as higher-performing industry peers.
Based on the reported figures, the company's cash conversion cycle has remained elevated, reaching 239 days in 2026Q1, which suggests that Ducommun is facing significant challenges in managing its inventory and receivables compared to the more streamlined operational cycles observed in the broader aerospace manufacturing sector.
The extended DSO of 171 days indicates that the company may be experiencing delays in collecting payments from major OEMs, which ties up critical liquidity. This inefficiency appears to be a structural drag on the business, potentially limiting the company's ability to reinvest in higher-margin electronic systems.
As indicated by the latest quarterly filings, Ducommun maintains a modest debt-to-equity ratio of 0.51, which provides a fortress-like balance sheet that stands in contrast to the operational volatility seen in the income statement and suggests a high degree of financial flexibility for future capital allocation.
The low leverage ratio appears to be a deliberate management choice to mitigate the risks inherent in the cyclical aerospace industry. While this conservative stance protects the company from interest rate shocks, it may also imply that the firm is under-utilizing its balance sheet to accelerate growth through strategic acquisitions.
The most commonly misapplied metric for Ducommun is GAAP net income, which, as reported in recent filings, is frequently distorted by non-cash charges and tax adjustments that obscure the underlying cash-generative health of the company's core manufacturing operations and its true competitive positioning within the aerospace supply chain.
Investors should prioritize EBITDA or free cash flow metrics to better understand the company's operational performance, as these figures are less susceptible to the accounting noise that currently plagues the net margin. Relying on net income alone may lead to an overly pessimistic view of a business that possesses significant sole-source moats.
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Quick answers to the most common questions about buying DCO stock.
Ducommun Incorporated's current P/E ratio is -75.7x. The historical average is 18.3x.
Ducommun Incorporated's current EV/EBITDA is 29.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Ducommun Incorporated's return on equity (ROE) is -5.6%. The historical average is 8.2%.
Based on historical data, Ducommun Incorporated is trading at a P/E of -75.7x. Compare with industry peers and growth rates for a complete picture.
Ducommun Incorporated has 26.9% gross margin and 8.9% operating margin.
Ducommun Incorporated's Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.